Journalize the transactions for

Smart

Computers assuming that the company uses the periodic inventory system. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)

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Part 1

Jul.

1:

Purchase of

$24,500

worth of computers on account, terms 3/10, n/60.

Date			Accounts	Debit	Credit
Jul. 1

Part 2

Jul.

3:

Return of

$600

of the computers to the vendor.

Date			Accounts	Debit	Credit
Jul. 3

Part 3

Jul.

9:

Payment made on account.

Date			Accounts	Debit	Credit
Jul. 9

Part 4

Jul.

12:

Sold computers on account for

$18,000

to a customer, terms

3/15, n/60.

Date			Accounts	Debit	Credit
Jul. 12

Part 5

Jul.

21:

Accepted a

$900

return from a customer.

Date			Accounts	Debit	Credit
Jul. 21

Part 6

Jul.

26:

Received payment from customer on balance due.

Date			Accounts	Debit	Credit
Jul. 26